Rural Bankers Association of the Philippines – Microenterprise Access to
Banking Services (RBAP-MABS) Program and SMART Communications, Inc.
(Smart) held the first Regional RBAP-SMART Money Accreditation Training
Workshop last October 05 at Naomi's Botanical Garden and Tourist Inn,
Ozamiz City.
The twenty-eight (28) rural bank participants had a first-hand
experience in understanding how they could assist their clients to
receive and activate their SMART Money Instant Cards and perform
Money-In Money-Out (MIMO) transactions. The course also briefed the
participants on the basics of SMART Money, the responsibilities of being
a partner SMART Money Center and the proper handling of MIMO
transactions, pre-funding of SMART Money wallets, consolidation,
settlement and reconciliation of encashment, appropriate security and
internal control measures that banks should have in place, accounting
entries, as well as proper tracking and monitoring SMART Money
transactions. All the training materials included step-by-step
procedures with a detailed checklist of requirements and templates to
assist rural banks to quickly become accredited to offer Smart Money
services. SMART's Communications Karlo Pereyra, Product Manager for
rural banks and Chris Chua, Account Manager for Visayas and Mindanao led
the pool of trainors including three colleagues from SEED Finance.
Among the rural bank participants were representatives from 1st Valley
Bank, Inc., Banco Dipolog, Inc., Rural Bank of Oroquieta, Inc., Cantilan
Bank, Inc. (A Rural Bank), One Network Bank, Inc. (A Rural Bank),
Katipunan Bank, Inc., Cooperative Bank of Misamis Oriental, Rural Bank
of Tuleda, Rural Bank of Lopez Jaena, Inc., Rural Bank of Jimenez, Rural
Bank of Pana-on, Rural Bank of Kulambugan, Salug Valley Rural Bank,
Inc., Rural Bank of Tangub City and Rural Bank of Bonifacio.
Smart Money is the world's first reloadable payment card linked to a
mobile phone. It is an electronic wallet that allows Smart subscribers
to send and receive money transfers, pay bills and load airtime.
Accredited rural banks will also be able to provide their clients with a
Smart Money Instant Card, which doubles as both a debit MasterCard and
an ATM card. This will enable clients to withdraw from an over 9,000
BancNet and Megalink ATMs, load in over 4,000 Money-In and Money-Out
Centers, 15 partner banks nationwide and 95,000 partner agents
worldwide. Clients will also now be able to make purchases or payments
in more than 50,000 local merchants and business and more than 24.6
million MasterCard locations worldwide.
Rural banks are definitely excited about offering their clients a mobile
wallet that is linked to an international accepted MasterCard debit
card. What is even more important for the banks and clients is that this
can be processed in minutes with an instant Smart Money card in the
client's hands.
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CARLOS ANI - SEEDFINANCE Corporation - http://www.seedfinance.net
Email: carlosani@seedfinance.net
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CONSULTING - http://www.carlosani.com
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